All Dick Smith stores to close

Joel Van Daal
All Dick Smith stores to close

All 363 stores across Australia and New Zealand will be closed over the next eight weeks.

Kotaku reports the closures, with an expected 2,890 employees to be affected by the move.

Dick Smith went into voluntary administration in early January, will receivers unable to garner a financially viable bid.

Receiver James Stuart said, “While we received a significant number of expressions of interest from local and overseas parties, unfortunately the sale process has not resulted in any acceptable offers for the group as a whole or for Australia or New Zealand as standalone businesses,”he said. “The offers were either significantly below liquidation values or highly conditional or both.

“We would particularly like to thank the Dick Smith employees for their support and patience during the receivership process.”

Around 3,200 employees are believed to be owed $2-million in unpaid wages, which have been set by the receivers as a high priority.


Connect with Joel on Twitter and Instagram

Advertisement

Tags: Retail , Dick Smith , industry news

Follow us on

  • RSS